Question

find the simple intrest in rs 1000 at 6% per annum for 5 months
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Answer 1

Answer:

simple interest=principal×rate×time/100

Step-by-step explanation:

=1000×6/100×5/12

=25

Answer 2

GIVEN :-

• principal (p) = 1000 rupees

• time (t) = 5 months

• rate (r) = 6%

TO FIND :-

• simple interest in rs 1000 at 6% per annum for 5 month

SOLUTION :-

we had given that :-

principal (p) = 1000 rupees

time (t) = 5 months

rate (r)= 6%

and the interest is simple hence ,

for simple interest we will use formula :-

$\implies \boxed{\rm{ \: s \: i = \dfrac{ \: p \: \times \: t \: \times \: r \: }{100} }}$

now time is given in months so ,

12 months = 1 year

1 month = 1/12 year

5 months = 5/12 year

now solving for amount :-

$\implies \rm{ \: \: s \: i = \dfrac{ \: 1000 \: \times 5 \times \: 6\: }{100 \times 12} }$

$\implies \rm{ \: s \: i = \dfrac{ \: 10 \: \times 5 \: }{ 2} }$

$\implies \rm{ \:s \: i = \: 5 \: \times 5 \: }$

$\implies \rm{ \: s \: i = 25 }$

NOW , AMOUNT = S.I + PRINCIPAL

AMOUNT = 25 + 1000

HENCE ,

$\implies \boxed{ \boxed{\rm{ amount =1025 \: rupees }}}$

OTHER INFORMATION :-

Simple Interest :

• Simple Interest is an easy method of calculating the interest for a loan/principal amount. Simple interest is a concept which is used in most of the sectors such as banking, finance, automobile, and so on. when you make a payment for a loan, first it goes to the monthly interest and the remaining goes towards the principal amount. In this article, let us discuss the definition, simple interest formula, and how to calculate the simple interest with examples.

Simple Interest Formula

• The Formula for simple interest helps you find the interest amount if the principal amount, rate of interest and time periods are given.

Simple interest formula is given as:

SI = (P × R ×T) / 100

• Where SI = simple interest

• P = principal

• R = interest rate (in percentage)

• T = time duration (in years)

In order t0 calculate the total amount, the following formula is used:

Amount (A) = Principal (P) + Interest (I)

• where Amount (A) is the total money paid back at the end of the time period for which it was borrowed.